Mobile Home Investing Q&A #2: 20+ Deals, Growing Your Portfolio, Happiness, & Helping Others

Welcome back,

Over the past six years helping investors understand the mobile home investing business and helping these investors grow their cash-flow businesses, I’ve come to learn a few very important things about MH investing success. There is an exact recipe (likely many paths) to be an active and successful mobile home investor that is well known in your local area and has a great word-of-mouth reputation.

Mobile home investing does not take large amounts of money, time, or credit however, 2 things that are absolutely needed are (1) a clear plan on moving forward and (2) determination in abundance. The paperwork and procedures for mobile home investing can be taught to a child; the real magic in growing a sustainable and scalable manufactured home investing business is you. Without your willingness to help others and take daily action you’re on a course set for poor-results, anxiety, and eventual failure. Conversley, with a proper plan and daily focused efforts you will be able to grow your business, keep your buying funnel full of leads, and keep a positive reputation one-deal at a time.

Special Thanks To This Week’s Guests

I love husband-and-wife investing teams, or any investing team that is done with loved ones. Perhaps this is because I am a bit envious and one day strive to invest in real estate with my future family. This week’s guests are seasoned Idaho mobile home investors Walt and Caiyun.

Walt and Caiyun spend 45 minutes with us dissecting what is working and not working in their business. This investing power-couple has closed over 10 cash-flow deals this year alone, and have been having a blast doing so since they began. In this video we also outline the differences in Walt and Ciayun’s cash-flow business versus most other Mobile Home Formula investors.

Hint: Walt and Caiyun spend a bit more on purchasing newer-type mobile homes. When reselling they sell for nearly double the profit and over 10 years of payments most deals. This compared to our typical payment term of 5-10 years maximum inside parks. I hope this part makes sense. If you have any questions don’t hesitate to comment them below.  

What you’ll learn:

• 1:35 Give a brief background of yourselves.
• 3:00 How much cash-flow does your average mobile home bring you?
• 3:05 How many payments are you usually collecting from your buyers?
• 7:00 What's Walt's and Caiyun's specific model? And is it right for you?
• 8:27 How long before you make your initial investment back?
• 9:50 What makes you unique? And how may others copy this?
• 11:00 Quick seller case study #1
• 11:40 What else do you love about MH investing besides all the profit?
• 12:20 How did you pay for upcoming cruise trip?
• 13:20 Quick case study #2
• 14:40 What your buyers are saying?
• 15:20 Working with park managers.
• 16:25 Are park managers helpful or hurtful?
• 16:40 Using park managers as testimonials.
• 17:40 Speaking candidly and honestly to park managers to help grow your business.
• 18:50 Convincing park managers of your value.
• 21:00 Working with your tenants & Taking care of your buyers
• 22:40 On average how long before your homes resell?
• 24:40 Creating affordable housing for your buyers in mind?
• 25:40 What are the most important daily activities for active mobile home investors?
• 27:20 What do you look for when you buy?
• 27:30 Should a new investor focus on one niche or help every seller they can?
• 28:40 Investing in 3 manufactured homes at once.
• 29:35 Why do you both still have 9-5 jobs?
• 31:20 What would you both change about your MH investing past?
• 31:45 Know your market and work backward to help stay safe.
• 33:00 Working effectively as husband and wife
• 34:20 Screening potential buyers.
• 35:00 Advice for newer mobile home investors
• 39:40 Having a new car paid for by resident.
• 40:40 Learning from other mobile home investors nationwide.
• 41:40 Passing on $20,000 cash to take payments.

Logically speaking there are sellers within 5, 10, or 20 miles around your home that are scared and confused as to why their homes have not sold yet. These sellers need your help, education, and advice. Many mobile home sellers may incorrectly believe their homes will sell for a higher price than the market will pay. It is our job as mobile home investors to help bring clarity and understanding to these and all sellers. As real estate professionals is our job to help educate sellers as to the variety of ways they will be able to sell their homes quickly, withour help and without it.

In conclusion, a successful mobile home investing business takes daily effort, clearly understanding your market, and the ability to help local mobile home owners and buyers. There will never be a single blog-article or video that will be able to answer all of your questions moving forward. While investing you’ll see and hear many unusual, unorthodox, and downright weird things. You’ll also be making daily offers to countless sellers that are all selling all different homes, with unique needs, and at different price points. With that said, make sure to take daily action and add value to every seller you come across.

We hope this article and video has been helpful. Any questions or concerns you have moving forward never hesitate to comment below or email us directly.

Love what you do daily,
John Fedro
support@mobilehomeinvesting.net

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